The UK and WB sign Rs 585 million Agreement to Support Poverty Reduction in Pakistan

Contacts: 
In Islamabad: Mariam Altaf, (92-51) 2279641
email: mariamaltaf@worldbank.org
In Washington: Erik Nora, (202) 458 4735
email: enora@worldbank.org

Dr. Yusaf Samiullah, Head of the UK’s Department for International Development (DFID) in Pakistan and Dr. John Wall, Country Director of the World Bank, Pakistan today signed a Memorandum of Understanding for DFID to provide up to 585 million Rupees (UK£ 5 million) worth of technical assistance to support the implementation of Pakistan’s Poverty Reduction Support Credit (PRSC) programme.

Also present at the signing ceremony was Mr. Mushtaq Malik, Additional Secretary, External Finance from Ministry of Finance.

The fund will be used to support the development, implementation and monitoring of policies that support Pakistan’s Poverty Reduction Strategy. This includes targeting the poor and vulnerable, promoting growth and macroeconomic stability and supporting a governance framework that will enable better health and education services for the country.

“I am pleased to sign this memorandum of understanding with the World Bank in support of the Government of Pakistan’s own programme to reduce poverty. The Government of Pakistan has made good progress in reducing poverty. But more needs to be done to lift the 38 million people still living below the national poverty line out of poverty, said Dr. Samiullah. Supporting the Government of Pakistan in this way is just one of a number of UK and World Bank programmes designed to support poverty reduction.  Looking forward, I am happy that we will double our own programme from 27.6 billion rupees (£236 million) for the current period 2005-2008 to 56 billion rupees (£480 million) for the period 2008-2011.  A new Country Assistance Plan will be developed over the coming months to set the framework for using these extra resources, with consultations starting in Pakistan very soon. Our partnerships with Government, civil society and other donors such as the World bank will be even more vital as we work together to support Pakistan’s progress towards the Millennium Development Goals”

“I am looking forward to working closely with the Government of Pakistan and DFID in pursuit of the outcomes detailed in Pakistan’s ‘Poverty Reduction Strategy”, said Dr. John Wall, Country Director of the World Bank, Pakistan. “This is a good example of
the kinds of partnership that can make a real difference.”

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